$22.70 Million in Sales Expected for CatchMark Timber Trust, Inc. (CTT) This Quarter
Equities research analysts expect that CatchMark Timber Trust, Inc. (NYSE:CTT) will announce sales of $22.70 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for CatchMark Timber Trust’s earnings, with estimates ranging from $22.50 million to $22.90 million. CatchMark Timber Trust reported sales of $20.40 million during the same quarter last year, which indicates a positive year-over-year growth rate of 11.3%. The firm is expected to issue its next quarterly earnings results on Thursday, February 15th.
On average, analysts expect that CatchMark Timber Trust will report full year sales of $22.70 million for the current fiscal year, with estimates ranging from $91.07 million to $91.50 million. For the next fiscal year, analysts expect that the business will post sales of $100.93 million per share, with estimates ranging from $98.26 million to $103.60 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for CatchMark Timber Trust.
Several analysts recently issued reports on CTT shares. Zacks Investment Research cut shares of CatchMark Timber Trust from a “hold” rating to a “sell” rating in a research note on Friday, October 6th. Stifel Nicolaus dropped their price objective on shares of CatchMark Timber Trust from $13.50 to $12.50 and set a “buy” rating for the company in a research note on Monday, October 16th. BidaskClub cut shares of CatchMark Timber Trust from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Finally, ValuEngine raised shares of CatchMark Timber Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, September 20th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $13.25.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a dividend of $0.135 per share. The ex-dividend date is Wednesday, November 29th. This represents a $0.54 annualized dividend and a yield of 4.13%. CatchMark Timber Trust’s dividend payout ratio is presently -158.82%.
In other CatchMark Timber Trust news, Director Paul S. Fisher acquired 2,700 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was bought at an average price of $12.84 per share, with a total value of $34,668.00. Following the purchase, the director now owns 14,918 shares in the company, valued at $191,547.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of the business. Stifel Financial Corp boosted its holdings in CatchMark Timber Trust by 21.7% in the 3rd quarter. Stifel Financial Corp now owns 41,215 shares of the financial services provider’s stock valued at $519,000 after purchasing an additional 7,342 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in CatchMark Timber Trust by 4.4% in the 3rd quarter. Wells Fargo & Company MN now owns 395,181 shares of the financial services provider’s stock valued at $4,983,000 after purchasing an additional 16,800 shares during the last quarter. Stelac Advisory Services LLC acquired a new position in CatchMark Timber Trust in the 3rd quarter valued at about $106,000. Sowell Financial Services LLC acquired a new position in CatchMark Timber Trust in the 3rd quarter valued at about $149,000. Finally, Ninepoint Partners LP acquired a new position in CatchMark Timber Trust in the 3rd quarter valued at about $379,000. Institutional investors own 63.70% of the company’s stock.
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About CatchMark Timber Trust
CatchMark Timber Trust, Inc is a real estate company investing in timberlands. The Company primarily engages in the ownership, management, acquisition and disposition of timberlands located in the United States. It is focused on investing in timberlands and to manage such assets to provide current income and attractive long-term returns to its stockholders.
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